Bruchou advises on Arcor’s international exchange offer
Bruchou & Funes de Rioja has advised the dealer managers and local placement agents in the exchange procedure, by Arcor, of its outstanding class 9 notes at a fixed interest rate equal to 6.000% maturing in 2023, for new 8.250% notes maturing on October 9, 2027 and for a cash consideration.
The exchange was effected on 9 November under the terms of the prospectus and exchange supplement and the Exchange Offer Memorandum, both dated 4 October 2022 (as subsequently amended or supplemented).
As part of the Exchange Offer, Arcor has acquired a US$372,058,000 principal amount of the Existing Notes, representing approximately 74.41% of the principal amount of the outstanding Existing Notes.
Davis Polk & Wardwell also acted as counsel to the dealer managers and placement agents in the United States. Muñoz de Toro Abogados and Linklaters acted as counsel to Arcor in Argentina and the United States, respectively.
Citigroup Global Markets, J.P. Morgan Securities and Santander Investment Securities acted as dealer managers, while Banco Santander Argentina, Banco de Galicia y Buenos Aires and Banco Itaú Argentina acted as local placement agents.
Arcor is a company in the mass consumer food products market.
The in-house team advising Arcor consisted of Federico Ivan Gottlieb and Matias Agustín Marolda as in-house lawyers, and Pablo Mainardi, Andrés Silva, Rogelio Gibaut, Santiago Lucas Blanco and Ignacio Etchegoyen as in-house financial advisors.
Muñoz de Toros Abogados’ team included partners Ricardo Muñoz de Toro and Laura Gomes and associate Guillermina Muñoz de Toro.
Linklaters’ team comprised partner Conrado Tenaglia, consultant Alejandro Gordano and associates Juan Ignacio Mata and Loreto Joannon.
Davis Polk & Wardwell’s team was composed of partner Maurice Blanco, consultant Drew Glover and associate Carlos Escandón.
Bruchou’s team was led by partner Alejandro Perelsztein (pictured left), with support from associates Leandro Belusci (pictured right), Josefina Mortola Saiach and Facundo Suárez Loñ.
